• Acquisition expands Baker Hughes’ turbomachinery portfolio with proven electric-power technology for industrial and energy customers
  
• Integration of BRUSH will enhance Baker Hughes’ electrification offering and supports strategic commitment to provide cleaner energy solutions

HOUSTON and LONDON, Aug. 08, 2022 (GLOBE NEWSWIRE) --  Baker Hughes (Nasdaq: BKR) announced it has agreed to acquire the Power Generation division of BRUSH Group (“BRUSH”) from One Equity Partners. BRUSH is an established equipment manufacturer that specializes in electric power generation and management for the industrial and energy sectors. This acquisition supports Baker Hughes’ strategic commitment to lead in providing decarbonization solutions for the natural gas industry and historically hard-to-abate sectors.

The addition of BRUSH will enhance Baker Hughes’ core turbomachinery portfolio with electromechanical equipment, including electric generators, synchronous condensers, electric motors, and associated control power management systems. Already in use across a wide range of industries, BRUSH’s technology complements Baker Hughes’ existing e-LNG offering. Through the acquisition, Baker Hughes also plans to optimize its supply chain by leveraging BRUSH Power Generation’s manufacturing base and expanding its scope on customer projects in both the industrial and energy sectors.

“We are delighted to bring the BRUSH Power Generation division, already a long-established and trusted supplier, into the Baker Hughes family,” said Rod Christie, executive vice president of Turbomachinery & Process Solutions at Baker Hughes. “The need for electrification in the hard-to-abate and natural gas sectors plays an increasingly critical role in accelerating the path to net-zero. Through this acquisition, we will expand our core electrification capabilities and scope, further enhance our supply chain, and reach new industrial customers who can benefit from our broader turbomachinery and climate technology solutions offerings.”

BRUSH serves both commercial and industrial customers, including manufacturers, as well as energy producers, such as utility-scale power generators and upstream oil and gas producers. The acquisition provides an opportunity to leverage BRUSH’s expertise and supply-chain to establish an electro-mechanical technology platform within Baker Hughes to serve a broad customer base with integrated solutions.

BRUSH currently operates in four facilities in the U.K., Czech Republic and The Netherlands, with aftermarket capabilities through service centers in the United Kingdom and the United States.

The acquisition is expected to close in fourth quarter of 2022, upon receipt of all required customary regulatory approvals.

About Baker Hughes
Baker Hughes (Nasdaq: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward - making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com

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